Washington D.C. – National Foreign Trade Council (NFTC) President Rufus Yerxa issued the following statement regarding the notification to Congress today of the Administration's intent to initiate negotiations regarding modernization of the North American Free Trade Agreement (NAFTA):

"Since its inception, NAFTA has brought enormous benefits to, and boosted economic growth in, all three countries. Canada and Mexico are the largest export markets for U.S. goods, making consumers in these markets vital to American exporters.

"It's critical to get to an outcome that builds upon NAFTA's success in creating a more open North American market. This modernization must strengthen America's competitiveness in the global economy rather than impose new barriers.

"NFTC and our member companies are prepared to work closely with U.S. negotiators to identify key potential gains for the United States from a modernization of the agreement. A stronger NAFTA is vital for the U.S. economy as well as for U.S. workers, service providers, farmers and ranchers, and consumers."

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About the NFTCServing America's Global Businesses Since 1914- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.Follow us on: